Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Buys $11,366.40 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 1,536 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was acquired at an average cost of $7.40 per share, for a total transaction of $11,366.40. Following the completion of the purchase, the insider now owns 1,536 shares of the company’s stock, valued at approximately $11,366.40. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

PMM opened at $6.05 on Monday. The company’s 50 day simple moving average is $6.29 and its two-hundred day simple moving average is $6.31. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Wolverine Asset Management LLC increased its holdings in shares of Putnam Managed Municipal Income Trust by 92.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $831,000 after buying an additional 61,240 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at approximately $25,000. Concurrent Investment Advisors LLC grew its position in Putnam Managed Municipal Income Trust by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after acquiring an additional 1,728 shares during the period. Finally, Clear Creek Financial Management LLC increased its stake in Putnam Managed Municipal Income Trust by 21.2% during the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after acquiring an additional 6,000 shares during the last quarter. 13.54% of the stock is owned by institutional investors and hedge funds.

About Putnam Managed Municipal Income Trust

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade.